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Every non-financial mortgage company and mortgage loan officer (MLO) must be registered and licensed to originate loans in any of the 50 states.
Each non-financial mortgage company must be licensed in their home state and each state they are going to originate loans. They must start there licensing via the NMLS&R website. CLICK HERE to begin your registration and licensing. In addition to be licensed in each state you are going to originate in, you must also license each branch office with NMLS&R and the state.
If a loan officer has passed the UST Federal Test, they are able to go to any state that your company is licensed in and apply for the state license without passing a state test. CLICK HERE to see the State Requirements.
Each MLO employed by a mortgage broker or mortgage banker, must be licensed in each state you company is licensed in and you want to originate loans. CLICK HERE to start the Registration and Licensing Process.
The MLO licensing includes: 20 hours of Pre-Licensing education, NMLS&R federal test, background check (fingerprints), as well as a credit report. The total cost of the licensing will be around $475.00 plus any State required Pre-Licensing Education.
Open the Licensing Process check list. CLICK HERE